BE beginners is to amass the courage to
BE YOUR OWN GURU: LEARN STOCK MARKET TRADING BY YOURSELFThe key to making money out of stocks is not to get scared of themBeing a beginner in the stock market can be a tricky business. What to do, what not to do? How to handle crashes and should you sell your stocks when high? You are riddled with questions and for an Indian entering into this realm, it can be a tricky business learning stock market without any prior knowledge.We agree, yes learning share market can be hard at first. However, most successful players in the stock market have been self-taught. A bit of courage coupled with common sense is the best way to start your stock market journey. The stock market is rapidly changing arena, and more people are learning about shares and making their first investments every day. The trial and error involving stocks trading help improve trading accuracy. Experience is the best teacher. Things like money management, discipline cannot be taught, trading in stocks by yourself can help develop discipline. Not to mention, friends, colleagues, and family play a big part when buying stocks. In many cases, this leads to bad judgment, disparity, and loss of trust and thinning of relationships. When you are dealing in stocks alone, there is no one keeping you from buying or selling. You are responsible for the result. This leads to confident buys and better results. The biggest hurdle for beginners is to amass the courage to get started. Most beginners make the same mistake!! Blindly following someone is sure to bring huge losses at some point.But, if you are serious about starting on the stock markets, here the things you should be doingRead booksReaders are leaders if you want to succeed, you have to read. There are a million books on stocks, but one of my personal favorites is How to Make Money in Stocks by William O’Neil.Find a mentorLet’s be honest, you cannot beat a veteran in the stock market. If you can’t beat them, join them. Stocks are volatile and the market can change in a couple of hours. An experienced marketer knows the trends and having a mentor to learn from is always better.Follow the marketThis is perhaps the most important thing to do. If you are really into learning about the share market, the best thing you can do is follow the market. Sites like Yahoo Finance serve as a great blooming ground for future investors. Keep track of news headlines in Bloomberg and the Wall Street Journal to get more in-depth into daily trends and future stocks.Even opening CNBC for 15 minutes can broaden anyone’s knowledge of stock market. Just let the interviews and comments soak in and grasp the business concepts as you listen. Be careful though, over time you may find some shows and articles filled with spam recommendations and distracting analysis. Be patient, the ability to differentiate the good from bad will develop with time.